Stocks got drubbed on Monday, falling across the board as this summer's market rally stalled out. When the closing bell rang on Wall Street, the S&P 500 was down 2.1%, the Nasdaq off 2.6%, and the Dow down 640 points, or 1.9%.

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Monday's losses completed the biggest two-day declines for the Nasdaq and the S&P 500 since June. For the S&P 500, Monday marked the index's largest decline since June 16, the date that also marks the market's most recent bottom.